Companies looking to file online corporation tax returns for years ending on/after 1 April will not be able to do so until October/November.
Logging into the CT online portal last month, one AccountingWEB member entered the details for a company whose financial year straddled the 1 April applicability date.
"I tried to fill in a form online and it would not work out the tax given that the 10,000 limit has disappeared," the agent said. When she queried it with HMRC, she was told it would take until November to get the mechanism working.
Budget changes to remove the 19% rate on non corporate distributions and to abolish the 0% rate of tax for the first 10,000 of income for qualifying small companies required some last minute adjustments for the new tax year, which are set out a CT600 budget ins...